BBC News | BP hit by tumbling world oil prices BBC News It is clear from the strain the low oil price is putting on BP that another year of falling prices will mean yet more job losses in both the upstream (oil exploration and production, including the North Sea) and downstream (refining and sale of fuel ... BP profit drops to 20-year low as oil firm plans to axe 7000 jobs Gulf-Scarred BP Was Ready For Oil Price Slump BP's Earnings Plunge Amid Oil-Price Slide |